BTC Market News (Current Price: 104950)

The big coin $BTC plummeted to 103300 last night due to news of the Israel-Palestine conflict, currently priced at 104950, about 2.8% lower than the previous value (107959), and the market feels like a 'battlefield horror'! After a sharp drop, the candlestick chart shows a slight rebound, with bulls and bears fiercely battling between 109000 and 103300, as the market seeks direction amidst the chaos of war. The next wave may either rebound to establish a bottom or probe lower!

Key Areas:

Upside Resistance: 109000 (top of the daily range).

Downside Support: 103300 (last night's low).

Market Observation:

Four hours: After a drop from 108398 to 103300, there is a rebound, and trading volume has surged, indicating panic selling.

One hour: Bulls and bears are entangled around 104950, with a breakthrough above 109000 or a drop back to 103300 determining the trend.

Updates:

The sharp drop last night was related to the escalation of the Israel-Palestine conflict, leading to heightened risk aversion in global markets, putting pressure on BTC. There are signs of bottom fishing in the Asian session, but risks of a sell-off may increase in the European and American evening sessions, and rumors of the conflict remain unclear. The Federal Reserve's interest rate decision tonight will influence the trend; if expectations for rate hikes heat up, downward pressure may intensify; if the conflict eases, the price range of 105000-107000 may re-emerge.

Trend Speculation:

If it falls below 103300 or tests 100000, if it rebounds above 106100 and stabilizes at 109000, 110000 can be expected! Geopolitics is the main driver!

In the short term, it will oscillate between 103300-109000, needing developments in the conflict or the interest rate decision to drive the trend.